Resilience in African Economies: What Governments could do and the AfCFTA could contribute
Afreximbank recently published a paper in the Bank’s Policy Journal under the title of Building a Better Future of Work for Resilience and Growth in Post-COVID-19 Africa. It makes an important contribution to an urgent and timely debate. The authors note that the COVID-19 pandemic “has caused an unprecedented disruption in the global economy, which is already having a tremendous impact on welfare and livelihoods in Africa, resulting in Africa’s first recession in 25 years”. They offer ideas about policies that African Governments should now adopt.
In this trade brief we mention some of the authors’ most important arguments and their conclusions. Since this particular edition of the Bank’s Policy Journal was published in December 2020, certain subsequent developments (most of an adverse kind) need to be referred to. In the course of 2020, the estimates from the IMF, the World Bank and other sources pointed to an economic recovery in 2021 for most African nations. Some of those forecasts now look too optimistic and need to be adjusted.
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